(Yicai) April 26 -- Chinese fast food chain Bingz is reportedly planning to open 3,000 stores in the United States, making the country its largest overseas market.

In the next five years, Bingz aims to open 300 directly-operated stores, with an estimated annual revenue of USD5 million per store, to reach an overall amount of USD1.5 billion, 36Kr reported today.

Bingz, which has 140 outlets in China, has not yet opened a single store in the US. However, it has four opened stores and two awaiting opening in Canada, as well as one in Singapore.

Bingz is building a central factory in San Diego that would cover the entire North American market. It plans to open 10 directly-operated stores in California by the end of next year, with the first one scheduled to open in the fourth quarter of this year.

In 2018, Xishaoye launched its global brand Bingz and released an international strategy aiming to enter overseas markets, such as the US and UK, the following year. But founder Meng Bing later said that the Covid-19 pandemic delayed the company’s overseas expansion plans.

Bingz completed an angel round of financing in the US, achieving a valuation of USD50 million, 36Kr also reported.

Editor: Futura Costaglione